At A Glance

Financials

At A Glance

Corporate Responsibility

Accelerate

Growth

United Technologies is uniquely
positioned to benefit from widespread
urbanization and the rapidly growing
commercial aerospace market,
accelerating our growth well into
the future.

Mumbai demonstrates
the powerful force of
urbanization. By 2025, its
population is expected to
reach more than 26 million,
more than double that in
1990. In the years ahead,
similar urbanization will
occur in countries such as
Colombia, Indonesia, Mexico,
Nigeria and Vietnam, which
have a combined population
of nearly 2 billion people.

In the decades ahead, a much greater portion of the world’s
population will live in urban centers, driving investment in
infrastructure and real estate development. This will create
demand for products that contribute to clean, safe, energy-efficient
buildings. Our commercial businesses — Otis and
UTC Climate, Controls & Security — are well established in the
world’s fastest-growing economies and are moving quickly to
further localize manufacturing and distribution networks to
capture new opportunities and better serve customers.

Otis’ actions in China are a good example. In the years ahead, China will continue
to be the world’s largest market for new elevator equipment as well as the world’s
fastest-growing service market. In response, Otis businesses have hired and trained
hundreds of new service technicians, and Otis is transitioning its high-rise center of
excellence, global marketing and business development functions to China.

We also are expanding our presence in India. In 2012, UTC Climate, Controls &
Security formed a joint venture to manufacture and distribute heating, ventilation and air-conditioning (HVAC) products in the country. This builds on similar joint ventures
in Argentina, Brazil, Chile and Egypt. The company also acquired one of India’s leading
providers of integrated building management systems.

The Boeing 787 Dreamliner is
equipped with 20 major systems
and components from UTC
Aerospace Systems, the largest
systems supplier to the aircraft.

The outlook for our commercial aerospace
businesses is very strong, driven by the need
to replace aging fleets in North America and by
increasing demand across Asia. Over the next
20 years, 30,000 new aircraft are expected
to enter service.

United Technologies is at the forefront in developing the next
generation of aircraft to meet this growing demand. This includes
the Boeing 787 Dreamliner, the most advanced commercial
aircraft in its class on the market. UTC Aerospace Systems was
instrumental in the design and launch of this more all-electric
aircraft. As newer aircraft enter service, our acquisition of Goodrich
will allow us to provide greater value to our customers with better,
more integrated products and services at a more competitive price.

Our majority ownership in the IAE International Aero Engines AG
collaboration will drive growth by increasing our share in what is
expected to be a 7,500-engine fleet. IAE already has delivered
more than 5,000 engines, with most of them early in their life cycle.
This represents a strong aftermarket growth opportunity. The
new IAE structure also will allow customers to smoothly transition
to Pratt & Whitney’s new PurePower GTF engine for the Airbus
A320neo aircraft family.

The V2500 SelectOne turbofan
engine is the most technologically
advanced engine in its class,
delivering best-in-class reliability,
cost of performance and fuel burn.